A Historic Week For Big Oil ...Middle East

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A Historic Week For Big Oil
It was a historic week for the oil industry, potentially marking a turning point, at least for the corporate strategies of the oil majors. More curbs on the supply side do add some bullish sentiment to the market, although the impacts on the fundamentals are not necessarily going to unfold in the near term. But in the wake of the huge blows to the oil majors this week, more than a few analysts spoke about growing odds of a supply crunch in the years ahead. Shell loses in court. Royal Dutch Shell (NYSE: RDS.A) lost a landmark legal case in a Dutch…

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